August 4, 2016
A 12,801-square-foot multi-tenant retail property, anchored by the Coronado Village Theaters, sold for $5.2 million. The two-parcel property is located in the heart of the Orange Avenue Retail Corridor in Coronado, CA., a central tourist destination near hotels and the navy base.
Located at 820 through 826 Orange Ave., the property was built in 1952. The buyer, 820 Orange Ave LLC., plans to make cosmetic improvements in the near term, while exploring value-add redevelopment opportunities in the future.
Cushman & Wakefield’s Andrew Peterson represented both parties in the transaction. The seller was The Siegel Trusts, the original founders and operators of the Coronado Village Theater.
Peterson notes, “It’s rare to see properties along the Orange Avenue Coronado retail corridor be made available for sale.”
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